In the case in question, the SEC had charged a company with violating a rule by prohibiting employees from disclosing certain information to outside parties before speaking to the legal and compliance team. The case followed an SEC official saying earlier this year that he was watching out for creatively drafted attempts to de-incentivize company whistleblowers from approaching the agency.

Moll has been among those advising hedge fund firms on how to navigate these issues. She said firms should change contracts and revise their compliance manuals “to clearly state that no firm policy or contract shall be read to preclude employees from reporting information to appropriate government agencies or regulators.”